In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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Republicans for Government-Run Health Care

First it was Mitt Romney supporting a HillaryCare-style health care reform in Massachusetts. Now Tommy Thompson, who as secretary of health and human services was responsible for the Medicare prescription drug debacle, is attacking Missouri governor Matt Blunt for cutting Medicaid spending. Thompson told the Associated Press that states should expand access to Medicaid because the federal government pays most of the cost.